E-Scooter Sharing App Luup Raises ¥750M, Led by Spiral Capital Begins hiring of sales managers and tech leads for further area expansion


Luup, Inc. (Head office: Shibuya-ku, Tokyo; President and CEO: Daiki Okai; hereinafter “Luup”), which operates a sharing service “LUUP” that handles “electric micromobility” such as e-scooters and e-bikes, raised 750 million yen through a third-party allotment of new shares from Spiral Capital Japan Fund Ⅱ Investment Limited Partnership (Head office: Minato-ku, Tokyo; Representative: Tomokazu Okuno; hereinafter “Spiral Capital”) as lead investor, and Anri Investment Fund Limited Partnership No.3 (Head office: Shibuya-ku, Tokyo; Representative: Anri Samata; hereinafter “ANRI”), ENEOS Innovation Partners LLC. (Head office: Chiyoda-ku, Tokyo; Representative: Yasunori Yazaki; hereinafter “ENEOS Innovation Partners”), Adastria Co., Ltd. (Head office: Shibuya-ku, Tokyo; Chairman of The Board: Michio Fukuda; hereinafter “Adastria”), and several undisclosed investors.

We will continue discussions with several potential investors toward the final closing around the summer of 2021. At the same time, we will begin accepting applications from companies throughout Japan that wish to install LUUP.

From left: Shunsuke Nakaji, Principal at ANRI; Daiki Okai, Representative of Luup; Takashi Chiba, Partner at Spiral Capital

List of investors in this investment round

– Spiral Capital
– ENEOS Innovation Partners
– Adastria
– Multiple investors (undisclosed)

Background of this investment round

Luup provides a sharing service for electric, compact, and single-passenger micromobility with the mission to “create an infrastructure that makes the entire city ‘a station front.’” Since April 23, 2021, we are operating an e-scooter sharing service under a special government measure, the first in Japan to make the wearing of helmets optional. In the future, we aim to introduce a universal mobility that can also be ridden easily and safely by the elderly and/or people with disabilities.

Currently, the company is experiencing a rapid increase in demand since the launch of the e-scooter sharing service. With this investment round, we will strengthen our organizational structure for further area expansion and functional enhancement, as well as develop safer and more convenient vehicles.

Furthermore, ENEOS Innovation Partners and Adastria are each looking to collaborate in the future. With ENEOS, we will build an energy supply system for electric micromobility, aiming to realize a society where everyone can move freely. With Adastria, we will start collaboration to provide a new means of transportation at stores.